What's Hot

    Gitex Africa – Tech giants, startups, and SMEs converge in Morocco

    June 2, 2023

    Ecobank launches single market trade hub for African businesses

    June 2, 2023

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Dangote refinery set to be commissioned in two weeks

      May 8, 2023

      An Nisa Taxi a Kenyan women-only taxi service to expand to Saudi Arabia

      May 4, 2023

      AD Ports Group invests Dhs955m to bolster its fleet

      May 1, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Ecobank launches single market trade hub for African businesses

      June 2, 2023

      IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

      May 31, 2023

      AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

      May 30, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Riyadh Valley Company invests in STV’s Total Growth Platform

      Business Finance April 4, 2023
      Recent

      Riyadh Valley Company invests in STV’s Total Growth Platform

      April 4, 2023

      South Africa’s Fin acquires Thuthukani

      March 24, 2023

      Fintech dominates African startup funding

      February 15, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Entrepreneurship

    Social investment platform InvestSky raises USD 3.4 million

    January 12, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    InvestSky
    Retail investors are "hugely influential", according to InvestSky.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    InvestSky aims to make investing “inclusive, intuitive, and informed”. Following a successful pre-seed round, the UAE company is launching its platform.

    InvestSky, a social investing platform for retail investors across the   GCC, has raised USD 3.4 million in a pre-seed funding round led by Emkan Capital, with investors including S3 Ventures, Al-Romaizan Family office and Mishal Al-Mishari, the Deputy CEO of Jahez.

    InvestSky, making investing “inclusive, intuitive, and informed”

    InvestSky’s platform allows for commission-free investing in a manner designed to appeal to a generation of investors within the GCC. According to the company, the aim is to make investing “inclusive, intuitive, and informed”. Users can buy fractional stocks starting from USD 1 (3.67 AED) and the platform provides a social community for users to collaborate. InvestSky will provide market intelligence data to help investors make informed decisions aligned with their principles whether they are shariah-compliant or focused on positive social and environmental impacts.

    The startup was founded in 2021 by Nitish Mittal and Turki Alshaikh and has received a category 4 license with retail endorsement from Dubai Financial Services Authority (DFSA), the Independent regulator of financial services conducted in or from DIFC. 

    Retail investors “hugely influential”

    Mittal, CEO of InvestSky, said, “We founded InvestSky on the recognition that retail investors are a hugely influential group across the middle east, yet the offering for them is clearly lagging behind. The region has not scratched the surface when it comes to the engagement and education of retail investors, especially considering the significant purchasing power, high GDP per capita and beneficial demographics. We intend to offer an empowering platform that helps educate our users to make sound investment decisions; powered by socially connected tools that will help build a collaborative community in the region.”

    Turki Alshaikh, Co-founder of InvestSky, said, “The retail investor services market in the region is still highly untapped. The number of retail investors using fintech solutions grew by more than 180% over the past year, in Saudi alone, according to the CMA. Beyond this, we see a big gap in financial inclusion, with female retail investors making up less than 27% of investors. We believe that educating our users is key to building a sustainable market by improving both financial literacy and inclusion.”

    Interested parties can join InvestSky’s early community by visiting their website.

    December 2022 saw MENA region startups raising USD 125 million. While fintech normally accounts the majority of investment on a month-by-month basis, December saw agritech take the crown.

    investment retail investors saudi arabia Startups UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleKarmSolar receives USD 3 million to develop Farafra Solar Grid
    Next Article Astra Tech acquires VoIP platform BOTIM

    Related Posts

    Business

    Gitex Africa – Tech giants, startups, and SMEs converge in Morocco

    June 2, 2023
    Business Logistics Logistics

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023
    Business & Trade Startups

    Cargoz secures bridge funding for expansion into KSA

    May 29, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    Gitex Africa – Tech giants, startups, and SMEs converge in Morocco

    June 2, 2023

    Ecobank launches single market trade hub for African businesses

    June 2, 2023

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023

    IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

    May 31, 2023

    AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

    May 30, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.